Qurain to develop Saudi Arabia billion dollar petchem complex

12 December 2011 12:04  [Source: ICIS news]

(recasts, clarifying currency in headline and lead)

LONDON (ICIS)--Qurain Petrochemical Industries Co will develop a billion dollar, world-scale petrochemical complex at Jubail Industrial City in Saudi Arabia, the Kuwait-headquartered group said on Monday.

The complex is expected to house a polyethylene terephthalate (PET) plant and a purified terephthalic acid (PTA) plant.

Capacity details and more specific financial figures for the project were not disclosed.

Qurain said it has appointed US consultancy firm IHS to advise on the planning and development of the scheme.

($1 = €0.75)

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By: Franco Capaldo
+44 (0)20 8652 3214

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